Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gentlemand]

Turning the Blockchain into a pure high-stake clearing network before it had a chance to establish itself as a useful, reliable tool for smaller transactions is not without risk either.

The XT approach was pretty odious but no more odious than the twitching whack jobs who believe the planetary population will skip Christmas so they can afford those gorgeous Bitcoin transaction fees.

[oda.krell]

Well, since I'm mostly on the sideline of the XT issue (because I don't consider max block a significant enough economic factor), I'll add that the protocol literalists have spun a respectable number of fabricated crisis narratives themselves (uncontrollable spam, lack of LT mining reward, etc.). IMO, it replaces one potential pitfall (mostly technical) with another one (mostly psychological): turning the Blockchain into a pure high-stake clearing network before it had a chance to establish itself as a useful, reliable tool for smaller transactions is not without risk either.

For the spam justification of the limit you have to ask Satoshi.

Spam attacks have also been proven a very real threat.

Okrent's law: "The pursuit of balance can create imbalance because sometimes something is true"

https://en.wikipedia.org/wiki/Argument_to_moderation

On 1: Wouldn't refer to him. Remember: "if (blocknumber > 115000) maxblocksize = largerlimit"?

On 2: As is the lack of confidence when (not if) we hit a proper, non-artificial bottleneck.

Think I'll stay with the moderate position, thanks.

[Fatman3001]

What twisting? that's literally a screenshot.

Context here: https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-60#post-2263

He is clearly not displaying panic.

That's why I provided the context, so you can make your own mind on the subject. For me, that is panic together with this:

https://archive.is/EMUcH

What was expected or hoped for in both camps was a decentralized distributed sidechain solution. It has lately become clear that BS was working on a ripple-like private blockchain instead, and now it's been confirmed. I see disappointment more than anything else. On both sides of the debate. If anything, some on the XT-side might think this strengthens their case, but I think it just adds confusion.

[oda.krell]

Turning the Blockchain into a pure high-stake clearing network before it had a chance to establish itself as a useful, reliable tool for smaller transactions is not without risk either.

The XT approach was pretty odious but no more odious than the twitching whack jobs who believe the planetary population will skip Christmas so they can afford those gorgeous Bitcoin transaction fees.

You put into few hilarious words what I think and express clumsily and convolutedly. /reacharound

[tarmi]

do you remember the story about that stupid and dead whale that sold 30 k @ 300 $?

lel

these days the entire bitstamp's bid side is like 5k.  

[ChartBuddy]

Coin
Explanation

[yolalanda]

do you remember that story about that stupid and dead whale that sold 30 k @ 300 $?

lel

these days the entire bitstamp's bid side is like 5k.  

You mean when we snapped up his cheap coinz & laughed at the cl00less n00b for making $9 mil?
Too painful for me to think about.

[Fatman3001]

do you remember the story about that stupid and dead whale that sold 30 k @ 300 $?

lel

these days the entire bitstamp's bid side is like 5k.  

That was an attempt by an early adopter to create a false bottom. It didn't work.

[gentlemand]

That was an attempt by an early adopter to create a false bottom. It didn't work.

Or it might have been a panicking/bored tweenie doing a final runner. Either way 9 mil buys a lengthy holiday from staring at charts and bids.

[Fatman3001]

That was an attempt by an early adopter to create a false bottom. It didn't work.

Or it might have been a panicking/bored tweenie doing a final runner. Either way 9 mil buys a lengthy holiday from staring at charts and bids.

I don't feel sorry for him/her either way.

[muyuu]

Well, since I'm mostly on the sideline of the XT issue (because I don't consider max block a significant enough economic factor), I'll add that the protocol literalists have spun a respectable number of fabricated crisis narratives themselves (uncontrollable spam, lack of LT mining reward, etc.). IMO, it replaces one potential pitfall (mostly technical) with another one (mostly psychological): turning the Blockchain into a pure high-stake clearing network before it had a chance to establish itself as a useful, reliable tool for smaller transactions is not without risk either.

For the spam justification of the limit you have to ask Satoshi.

Spam attacks have also been proven a very real threat.

Okrent's law: "The pursuit of balance can create imbalance because sometimes something is true"

https://en.wikipedia.org/wiki/Argument_to_moderation

On 1: Wouldn't refer to him. Remember: "if (blocknumber > 115000) maxblocksize = largerlimit"?

On 2: As is the lack of confidence when (not if) we hit a proper, non-artificial bottleneck.

Think I'll stay with the moderate position, thanks.

There is nothing radical in not supporting XT. Being on the fence as in "half adopting" XT is simply a disingenuous stance. Sort of like the "atheism is a religion" argument. Or being on the fence about the Pol Pot genocide because opposing all murders is radical, "let's compromise and murder just half of the opposition and their families".

[S3052]

Nice rally guys. Was kind is evident that it breaks out :-)

[Patel]

Slow and steady rallies are the best ones

[Torque]

Ah yes, the ol' familiar fake price pegging of $249.999999999999999

Seems legit  

_{(And they say the American whales aren't in control of the price, yeah right)}

[Fatman3001]

There is nothing radical in not supporting XT. Being on the fence as in "half adopting" XT is simply a disingenuous stance. Sort of like the "atheism is a religion" argument. Or being on the fence about the Pol Pot genocide because opposing all murders is radical, "let's compromise and murder just half of the opposition and their families".

This is just stupid. You're way over line. There is plenty of gradient in this debate. Only retards like hdbuck and brg444 think this is about 1mb or 8gb. Nobody with their heads screwed on the right way wants 1mb. The question is if it's XT-BIP101 around new year or Core-BIP100/105/some other crap after problems have started to pile up. Attacking people like this for finding this debate a bit "meh" is just stupid.  Third time's the charm: stupid!

[Richy_T]

Referring to the part of your statement that I have bolded above.  Even though this is the final auction of this particular series of ceased coins, I would NOT put it past the Feds and/or other Governments from time to time come across BTC and/or other crypto assets in large quantities and to have similar future auctions.

Anyone heard of any pools on this one? I'd love to drop 1/2 mil on some coins but cash flow & all, y'know...

[oda.krell]

There is nothing radical in not supporting XT. Being on the fence as in "half adopting" XT is simply a disingenuous stance. Sort of like the "atheism is a religion" argument. Or being on the fence about the Pol Pot genocide because opposing all murders is radical, "let's compromise and murder just half of the opposition and their families".

Problem is, the public argument pretty quickly turned into a binary choice of sorts, pro XT vs. pro status quo. Given that choice, anything other than being on the fence would be naive.

[muyuu]

There is nothing radical in not supporting XT. Being on the fence as in "half adopting" XT is simply a disingenuous stance. Sort of like the "atheism is a religion" argument. Or being on the fence about the Pol Pot genocide because opposing all murders is radical, "let's compromise and murder just half of the opposition and their families".

Problem is, the public argument pretty quickly turned into a binary choice of sorts, pro XT vs. pro status quo. Given that choice, anything other than being on the fence would be naive.

You are making this up in your mind. I'm not pro statu quo and most people aren't.

[oda.krell]

There is nothing radical in not supporting XT. Being on the fence as in "half adopting" XT is simply a disingenuous stance. Sort of like the "atheism is a religion" argument. Or being on the fence about the Pol Pot genocide because opposing all murders is radical, "let's compromise and murder just half of the opposition and their families".

Problem is, the public argument pretty quickly turned into a binary choice of sorts, pro XT vs. pro status quo. Given that choice, anything other than being on the fence would be naive.

You are making this up in your mind. I'm not pro statu quo and most people aren't.

Then, again, miscommunication -- unless you consider the likes of Mircea Popescu "not status quo", which would be just plain twisting of words.

[Richy_T]

There is nothing radical in not supporting XT. Being on the fence as in "half adopting" XT is simply a disingenuous stance. Sort of like the "atheism is a religion" argument. Or being on the fence about the Pol Pot genocide because opposing all murders is radical, "let's compromise and murder just half of the opposition and their families".

Problem is, the public argument pretty quickly turned into a binary choice of sorts, pro XT vs. pro status quo. Given that choice, anything other than being on the fence would be naive.

XT is a bit of a red herring. It's more about BIP101 (and friends) and more broadly, it's about how the protocol is managed.